I like leveraged ETFs but only in market environments with low volatility and high probability of consecutive daily positive returns. Historically those markets environments usually coincide with the major indexes (S&P, Dow, Nasdaq) being above the 200 day moving average, a good benchmark for the market being in an uptrend and volatility being low. Bear markets significantly under the 200 day like right now are generally marked with much less chance of consecutive positive returns and high volatility both of which crush the returns of leveraged ETFs e.g. TQQQ, SOXL, and friends. The upshot is I'm sitting things out for the time being.